The rupee fell way past the psychological mark of 57 for the first time to 57.30 against the dollartoday on strong demand for the American currency from oil importers, increased capital outflows and concerns over slowdown in global economic growth.
Continuing its free fall, the rupee surpassed previous records in the five-day long losing streak and tumbled Re 1, over 1.6 per cent from previous close to 57.30 per dollar in midsession trade on the forex markets.
The rupee has depreciated nearly 3 per cent so far this week, its biggest weekly fall since September 23.
The US dollar has also gained against the euro and other major currencies in the overseas forex markets amid global economic growth concerns, Moody's downgrade of world's 15 biggest banks and mounting worries over eurozone debt crisis including the size of a bailout needed to save Spain's banks.
Continuing its free fall, the rupee surpassed previous records in the five-day long losing streak and tumbled Re 1, over 1.6 per cent from previous close to 57.30 per dollar in midsession trade on the forex markets.
The rupee has depreciated nearly 3 per cent so far this week, its biggest weekly fall since September 23.
The US dollar has also gained against the euro and other major currencies in the overseas forex markets amid global economic growth concerns, Moody's downgrade of world's 15 biggest banks and mounting worries over eurozone debt crisis including the size of a bailout needed to save Spain's banks.
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